<DOCUMENT>
<TYPE>EX-99.77Q1E
<SEQUENCE>3
<FILENAME>d536937dex9977q1e.txt
<DESCRIPTION>EX-99.77Q1E
<TEXT>
<PAGE>

                                                               Sub-Item 77Q1(e)

                            MEMORANDUM OF AGREEMENT
                            (ADVISORY FEE WAIVERS)

   This Memorandum of Agreement is entered into as of the effective date on the
attached Exhibit A and B (each an "Exhibit" or, collectively the "Exhibits"),
between AIM Counselor Series Trust (Invesco Counselor Series Trust), AIM Equity
Funds (Invesco Equity Funds), AIM Funds Group (Invesco Funds Group), AIM Growth
Series (Invesco Growth Series), AIM International Mutual Funds (Invesco
International Mutual Funds), AIM Investment Funds (Invesco Investment Funds),
AIM Investment Securities Funds (Invesco Investment Securities Funds), AIM
Sector Funds (Invesco Sector Funds), AIM Tax-Exempt Funds (Invesco Tax-Exempt
Funds), AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust), AIM
Variable Insurance Funds (Invesco Variable Insurance Funds), Invesco Advantage
Municipal Income Trust II, Invesco Bond Fund, Invesco California Value
Municipal Income Trust, Invesco Dynamic Credit Opportunities Fund, Invesco
Exchange Fund, Invesco High Income 2023 Target Term Fund, Invesco High Income
2024 Target Term Fund, Invesco High Income Trust II, Invesco Management Trust,
Invesco Municipal Income Opportunities Trust, Invesco Municipal Opportunity
Trust, Invesco Municipal Trust, Invesco Pennsylvania Value Municipal Income
Trust, Invesco Quality Municipal Income Trust, Invesco Securities Trust,
Invesco Senior Income Trust, Invesco Trust for Investment Grade Municipals,
Invesco Trust for Investment Grade New York Municipals and Invesco Value
Municipal Income Trust (each a "Trust" or, collectively, the "Trusts"), on
behalf of the funds listed on the Exhibits to this Memorandum of Agreement (the
"Funds"), and Invesco Advisers, Inc. ("Invesco"). Invesco shall and hereby
agrees to waive fees of the Funds, on behalf of their respective classes as
applicable, severally and not jointly, as indicated in the Exhibits.

   For and in consideration of the mutual terms and agreements set forth herein
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, Invesco agrees that until at least the expiration date
set forth on Exhibit A (the "Expiration Date") and with respect to those Funds
listed on the Exhibit, Invesco will waive its advisory fees at the rate set
forth on the Exhibit.

   For and in consideration of the mutual terms and agreements set forth herein
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the Trusts and Invesco agree as follows:

    1. Invesco agrees that until the expiration date, if any, of the commitment
       set forth on the attached Exhibit B occurs, as such Exhibit B is amended
       from time to time, Invesco will waive advisory fees payable by an
       Investing Fund (defined below) in an amount equal to 100% of the net
       advisory fee Invesco receives on the Uninvested Cash (defined below)
       from the Affiliated Money Market Fund (defined below) in which the
       Investing Fund invests (the "Waiver").

       i.  Invesco's Fund Accounting Group will calculate, and apply, the
           Waiver monthly, based upon the average investment of Uninvested Cash
           made by the Investing Fund during the previous month in an
           Affiliated Money Market Fund.

       ii. The Waiver will not apply to those Investing Funds that do not
           charge an advisory fee, either due to the terms of their advisory
           agreement, or as a result of contractual or voluntary fee waivers.

       iii.The Waiver will not apply to cash collateral for securities lending.

       For purposes of the paragraph above, the following terms shall have the
       following meanings:

       (a)"Affiliated Money Market Fund" - any existing or future Trust that
          holds itself out as a money market fund and complies with Rule 2a-7
          under the Investment Company Act of 1940, as amended;

       (b)"Investing Fund" - any Fund investing Cash Balances and/or Cash
          Collateral in an Affiliated Money Market Fund; and

       (c)"Uninvested Cash" - cash available and uninvested by a Trust that may
          result from a variety of sources, including dividends or interest
          received on portfolio securities,

<PAGE>

          unsettled securities transactions, strategic reserves, matured
          investments, proceeds from liquidation of investment securities,
          dividend payments, or new investor capital.

    2. Neither a Trust nor Invesco may remove or amend the Waiver to a Trust's
       detriment prior to the Expiration Date without requesting and receiving
       the approval of the Board of Trustee of the applicable Fund's Trust to
       remove or amend such Waiver. Invesco will not have any right to
       reimbursement of any amount so waived.

   Subject to the foregoing paragraphs, Invesco agrees to review the
then-current waivers for each class of the Funds listed on the Exhibits on a
date prior to the Expiration Date to determine whether such waivers should be
amended, continued or terminated. The waivers will expire upon the Expiration
Date unless Invesco has agreed to continue them. The Exhibits will be amended
to reflect any such agreement.

   It is expressly agreed that the obligations of the Trusts hereunder shall
not be binding upon any of the Trustees, shareholders, nominees, officers,
agents or employees of the Trusts personally, but shall only bind the assets
and property of the Funds, as provided in each Trust's Agreement and
Declaration of Trust. The execution and delivery of this Memorandum of
Agreement have been authorized by the Trustees of each Trust, and this
Memorandum of Agreement has been executed and delivered by an authorized
officer of each Trust acting as such; neither such authorization by such
Trustees nor such execution and delivery by such officer shall be deemed to
have been made by any of them individually or to impose any liability on any of
them personally, but shall bind only the assets and property of the Funds, as
provided in each Trust's Agreement and Declaration of Trust.

   IN WITNESS WHEREOF, each of the Trusts, on behalf of itself and its Funds
listed in Exhibit A and B to this Memorandum of Agreement, and Invesco have
entered into this Memorandum of Agreement as of the Effective Date on the
attached Exhibits.

<TABLE>
<S>                                      <C>
AIM COUNSELOR SERIES TRUST (INVESCO      INVESCO DYNAMIC CREDIT OPPORTUNITIES
COUNSELOR SERIES TRUST)                  FUND
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)  INVESCO EXCHANGE FUND
AIM FUNDS GROUP (INVESCO FUNDS GROUP)    INVESCO HIGH INCOME 2023 TARGET TERM
AIM GROWTH SERIES (INVESCO GROWTH        FUND
SERIES)                                  INVESCO HIGH INCOME 2024 TARGET TERM
AIM INTERNATIONAL MUTUAL FUNDS           FUND
(INVESCO INTERNATIONAL MUTUAL FUNDS)     INVESCO HIGH INCOME TRUST II
AIM INVESTMENT FUNDS (INVESCO            INVESCO MANAGEMENT TRUST
INVESTMENT FUNDS)                        INVESCO MUNICIPAL INCOME OPPORTUNITIES
AIM INVESTMENT SECURITIES FUNDS          TRUST
(INVESCO INVESTMENT SECURITIES FUNDS)    INVESCO MUNICIPAL OPPORTUNITY TRUST
AIM SECTOR FUNDS (INVESCO SECTOR         INVESCO MUNICIPAL TRUST
FUNDS)                                   INVESCO PENNSYLVANIA VALUE MUNICIPAL
AIM TAX-EXEMPT FUNDS (INVESCO TAX-       INCOME TRUST
EXEMPT FUNDS)                            INVESCO QUALITY MUNICIPAL INCOME TRUST
AIM TREASURER'S SERIES TRUST (INVESCO    INVESCO SECURITIES TRUST
TREASURER'S SERIES TRUST)                INVESCO SENIOR INCOME TRUST
AIM VARIABLE INSURANCE FUNDS (INVESCO    INVESCO TRUST FOR INVESTMENT GRADE
VARIABLE INSURANCE FUNDS)                MUNICIPALS
INVESCO ADVANTAGE MUNICIPAL INCOME       INVESCO TRUST FOR INVESTMENT GRADE
TRUST II                                 NEW YORK MUNICIPALS
INVESCO BOND FUND                        INVESCO VALUE MUNICIPAL INCOME TRUST
INVESCO CALIFORNIA VALUE MUNICIPAL
INCOME TRUST
</TABLE>

on behalf of the Funds listed in the Exhibit to
this Memorandum of Agreement

By:     /s/ John M. Zerr
        ----------------------------------------
Title:  Senior Vice President

INVESCO ADVISERS, INC.

By:     /s/ John M. Zerr
        ----------------------------------------
Title:  Senior Vice President

<PAGE>

<TABLE>
<C>                   <S>                                      <C>             <C>
                             EXHIBIT A TO ADVISORY FEE MOA

   AIM COUNSELOR
   SERIES TRUST
(INVESCO COUNSELOR                                                             EXPIRATION
   SERIES TRUST)                WAIVER DESCRIPTION             EFFECTIVE DATE    DATE
 ------------------             ------------------             --------------  ----------
Invesco Strategic     Invesco will waive advisory fees in an    4/30/2014      06/30/2019
  Real Return         amount equal to the advisory fees
  Fund                earned on underlying affiliated
                      investments

  AIM INVESTMENT
  FUNDS (INVESCO                                                               EXPIRATION
 INVESTMENT FUNDS)              WAIVER DESCRIPTION             EFFECTIVE DATE    DATE
 -----------------              ------------------             --------------  ----------
Invesco Balanced-     Invesco will waive advisory fees in an     02/24/15      06/30/2019
  Risk Commodity      amount equal to the advisory fees
  Strategy Fund       earned on underlying affiliated
                      investments

Invesco Global        Invesco will waive advisory fees in an    12/17/2013     06/30/2019
  Targeted Returns    amount equal to the advisory fees
  Fund                earned on underlying affiliated
                      investments

  AIM TREASURER'S
   SERIES TRUST
(INVESCO TREASURER'S                                                           EXPIRATION
   SERIES TRUST)                WAIVER DESCRIPTION             EFFECTIVE DATE    DATE
--------------------            ------------------             --------------  ----------
Invesco Premier       Invesco will waive advisory fees in the    2/1/2011      12/31/2018
  Portfolio           amount of 0.07% of the Fund's average
                      daily net assets

Invesco Premier       Invesco will waive advisory fees in the    2/1/2011      12/31/2018
  U.S.                amount of 0.07% of the Fund's average
  Government          daily net assets
  Money Portfolio

Invesco Premier       Invesco will waive advisory fees in the   06/01/2016     12/31/2018
  Tax-Exempt          amount of 0.05% of the Fund's average
  Portfolio           daily net assets
</TABLE>

<PAGE>

                                  EXHIBIT "B"

          AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
<TABLE>
<CAPTION>

PORTFOLIO                                           EFFECTIVE DATE   COMMITTED UNTIL
---------                                         ------------------ ---------------
<S>                                               <C>                <C>
Invesco American Franchise Fund                   February 12, 2010   June 30, 2019
Invesco California Tax-Free Income Fund           February 12, 2010   June 30, 2019
Invesco Core Plus Bond Fund                          June 2, 2009     June 30, 2019
Invesco Equally-Weighted S&P 500 Fund             February 12, 2010   June 30, 2019
Invesco Equity and Income Fund                    February 12, 2010   June 30, 2019
Invesco Floating Rate Fund                           July 1, 2007     June 30, 2019
Invesco Global Real Estate Income Fund               July 1, 2007     June 30, 2019
Invesco Growth and Income Fund                    February 12, 2010   June 30, 2019
Invesco Low Volatility Equity Yield Fund             July 1, 2007     June 30, 2019
Invesco Pennsylvania Tax Free Income Fund         February 12, 2010   June 30, 2019
Invesco S&P 500 Index Fund                        February 12, 2010   June 30, 2019
Invesco Short Duration High Yield Municipal Fund  September 30, 2015  June 30, 2019
Invesco Small Cap Discovery Fund                  February 12, 2010   June 30, 2019
Invesco Strategic Real Return Fund                  April 30, 2014    June 30, 2019

                      AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)

PORTFOLIO                                           EFFECTIVE DATE   COMMITTED UNTIL
---------                                         ------------------ ---------------
Invesco Charter Fund                                 July 1, 2007     June 30, 2019
Invesco Diversified Dividend Fund                    July 1, 2007     June 30, 2019
Invesco Summit Fund                                  July 1, 2007     June 30, 2019

                       AIM FUNDS GROUP (INVESCO FUNDS GROUP)

FUND                                                EFFECTIVE DATE   COMMITTED UNTIL
----                                              ------------------ ---------------
Invesco European Small Company Fund                  July 1, 2007     June 30, 2019
Invesco Global Core Equity Fund                      July 1, 2007     June 30, 2019
Invesco International Small Company Fund             July 1, 2007     June 30, 2019
Invesco Small Cap Equity Fund                        July 1, 2007     June 30, 2019

                     AIM GROWTH SERIES (INVESCO GROWTH SERIES)

FUND                                                EFFECTIVE DATE   COMMITTED UNTIL
----                                              ------------------ ---------------
Invesco Alternative Strategies Fund                October 14, 2014   June 30, 2019
Invesco Convertible Securities Fund               February 12, 2010   June 30, 2019
Invesco Global Low Volatility Equity Yield Fund      July 1, 2007     June 30, 2019
Invesco Mid Cap Core Equity Fund                     July 1, 2007     June 30, 2019
Invesco Multi-Asset Inflation Fund                 October 14, 2014   June 30, 2019
Invesco Quality Income Fund                       February 12, 2010   June 30, 2019
Invesco Small Cap Growth Fund                        July 1, 2007     June 30, 2019
</TABLE>

<PAGE>

      AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
<TABLE>
<CAPTION>

FUND                                                EFFECTIVE DATE   COMMITTED UNTIL
----                                              ------------------ ---------------
<S>                                               <C>                <C>
Invesco Asia Pacific Growth Fund                     July 1, 2007     June 30, 2019
Invesco European Growth Fund                         July 1, 2007     June 30, 2019
Invesco Global Growth Fund                           July 1, 2007     June 30, 2019
Invesco Global Opportunities Fund                   August 3, 2012    June 30, 2019
Invesco Global Responsibility Equity Fund           June 30, 2016     June 30, 2019
Invesco Global Small & Mid Cap Growth Fund           July 1, 2007     June 30, 2019
Invesco International Companies Fund              December 21, 2015   June 30, 2019
Invesco International Core Equity Fund               July 1, 2007     June 30, 2019
Invesco International Growth Fund                    July 1, 2007     June 30, 2019
Invesco Select Opportunities Fund                   August 3, 2012    June 30, 2019

                  AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)

FUND                                                EFFECTIVE DATE   COMMITTED UNTIL
----                                              ------------------ ---------------
Invesco All Cap Market Neutral Fund               December 17, 2013   June 30, 2019
Invesco Balanced-Risk Allocation Fund/1/             May 29, 2009     June 30, 2019
Invesco Balanced-Risk Commodity Strategy Fund/2/  November 29, 2010   June 30, 2019
Invesco Developing Markets Fund                      July 1, 2007     June 30, 2019
Invesco Emerging Markets Equity Fund                 May 11, 2011     June 30, 2019
Invesco Emerging Markets Flexible Bond Fund/3/      June 14, 2010     June 30, 2019
Invesco Endeavor Fund                                July 1, 2007     June 30, 2019
Invesco Global Health Care Fund                      July 1, 2007     June 30, 2019
Invesco Global Infrastructure Fund                   May 2, 2014      June 30, 2019
Invesco Global Market Neutral Fund                December 17, 2013   June 30, 2019
Invesco Global Targeted Returns Fund/5/           December 17, 2013   June 30, 2019
Invesco Greater China Fund                           July 1, 2007     June 30, 2019
Invesco Long/Short Equity Fund                    December 17, 2013   June 30, 2019
Invesco Low Volatility Emerging Markets Fund      December 17, 2013   June 30, 2019
Invesco Macro Allocation Strategy Fund/4/         September 25, 2012  June 30, 2019
Invesco MLP Fund                                   August 29, 2014    June 30, 2019
Invesco Multi-Asset Income Fund/6/                December 13, 2011   June 30, 2019
Invesco Pacific Growth Fund                       February 12, 2010   June 30, 2019
Invesco Select Companies Fund                        July 1, 2007     June 30, 2019
Invesco World Bond Fund                              July 1, 2007     June 30, 2019
Invesco U.S. Managed Volatility Fund              December 18, 2017   June 30, 2019

       AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)

FUND                                                EFFECTIVE DATE   COMMITTED UNTIL
----                                              ------------------ ---------------
Invesco Corporate Bond Fund                       February 12, 2010   June 30, 2019
Invesco Global Real Estate Fund                      July 1, 2007     June 30, 2019
Invesco Government Money Market Fund                 July 1, 2007     June 30, 2019
Invesco High Yield Fund                              July 1, 2007     June 30, 2019
Invesco Real Estate Fund                             July 1, 2007     June 30, 2019
Invesco Short Duration Inflation Protected Fund      July 1, 2007     June 30, 2019
Invesco Short Term Bond Fund                         July 1, 2007     June 30, 2019
Invesco U.S. Government Fund                         July 1, 2007     June 30, 2019
</TABLE>
--------
/1/  Advisory fees to be waived by Invesco for Invesco Balanced-Risk Allocation
     Fund also include advisory fees that Invesco receives on the Uninvested
     Cash from the Affiliated Money Market Fund in which Invesco Cayman
     Commodity Fund I, Ltd. invests.
2  Advisory fees to be waived by Invesco for Invesco Balanced-Risk Commodity
   Strategy Fund also include advisory fees that Invesco receives on the
   Uninvested Cash from the Affiliated Money Market Fund in which Invesco
   Cayman Commodity Fund III, Ltd. invests.
3  Advisory fees to be waived by Invesco for Invesco Emerging Markets Flexible
   Bond Fund also include advisory fees that Invesco receives on the Uninvested
   Cash from the Affiliated Money Market Fund in which Invesco Emerging Markets
   Flexible Bond Cayman, Ltd. invests.
4  Advisory fees to be waived by Invesco for Invesco Macro Allocation Strategy
   Fund also include advisory fees that Invesco receives on the Uninvested Cash
   from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund
   V, Ltd. invests.
5  Advisory fees to be waived by Invesco for Invesco Global Targeted Returns
   Fund also include advisory fees that Invesco receives on the Uninvested Cash
   from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund
   VII, Ltd. invests.
6  Advisory fees to be waived by Invesco for Invesco Multi-Asset Income Fund
   also include advisory fees that Invesco receives on the Uninvested Cash from
   the Affiliated Money Market Fund in which Invesco Multi-Asset Income Cayman,
   Ltd. invests.

<PAGE>

<TABLE>
<S>                                              <C>               <C>

                     AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)

FUND                                              EFFECTIVE DATE   COMMITTED UNTIL
----                                             ----------------- ---------------
Invesco American Value Fund                      February 12, 2010  June 30, 2019
Invesco Comstock Fund                            February 12, 2010  June 30, 2019
Invesco Energy Fund                                July 1, 2007     June 30, 2019
Invesco Dividend Income Fund                       July 1, 2007     June 30, 2019
Invesco Gold & Precious Metals Fund                July 1, 2007     June 30, 2019
Invesco Mid Cap Growth Fund                      February 12, 2010  June 30, 2019
Invesco Small Cap Value Fund                     February 12, 2010  June 30, 2019
Invesco Technology Fund                            July 1, 2007     June 30, 2019
Invesco Technology Sector Fund                   February 12, 2010  June 30, 2019
Invesco Value Opportunities Fund                 February 12, 2010  June 30, 2019

                 AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)

FUND                                              EFFECTIVE DATE   COMMITTED UNTIL
----                                             ----------------- ---------------
Invesco High Yield Municipal Fund                February 12, 2010  June 30, 2019
Invesco Intermediate Term Municipal Income Fund  February 12, 2010  June 30, 2019
Invesco Municipal Income Fund                    February 12, 2010  June 30, 2019
Invesco New York Tax Free Income Fund            February 12, 2010  June 30, 2019
Invesco Tax-Exempt Cash Fund                       July 1, 2007     June 30, 2019
Invesco Limited Term Municipal Income Fund         July 1, 2007     June 30, 2019

         AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

FUND                                              EFFECTIVE DATE   COMMITTED UNTIL
----                                             ----------------- ---------------
Invesco V.I. American Franchise Fund             February 12, 2010  June 30, 2019
Invesco V.I. American Value Fund                 February 12, 2010  June 30, 2019
Invesco V.I. Balanced-Risk Allocation Fund/7/    December 22, 2010  June 30, 2019
Invesco V.I. Comstock Fund                       February 12, 2010  June 30, 2019
Invesco V.I. Core Equity Fund                      July 1, 2007     June 30, 2019
Invesco V.I. Core Plus Bond Fund                  April 30, 2015    June 30, 2019
Invesco V.I. Diversified Dividend Fund           February 12, 2010  June 30, 2019
Invesco V.I. Equally-Weighted S&P 500 Fund       February 12, 2010  June 30, 2019
Invesco V.I. Equity and Income Fund              February 12, 2010  June 30, 2019
Invesco V.I. Global Core Equity Fund             February 12, 2010  June 30, 2019
Invesco V.I. Global Health Care Fund               July 1, 2007     June 30, 2019
Invesco V.I. Global Real Estate Fund               July 1, 2007     June 30, 2019
Invesco V.I. Government Money Market Fund          July 1, 2007     June 30, 2019
Invesco V.I. Government Securities Fund            July 1, 2007     June 30, 2019
Invesco V.I. Growth and Income Fund              February 12, 2010  June 30, 2019
Invesco V.I. High Yield Fund                       July 1, 2007     June 30, 2019
Invesco V.I. International Growth Fund             July 1, 2007     June 30, 2019
Invesco V.I. Managed Volatility Fund               July 1, 2007     June 30, 2019
Invesco V.I. Mid Cap Core Equity Fund              July 1, 2007     June 30, 2019
Invesco V.I. Mid Cap Growth Fund                 February 12, 2010  June 30, 2019
Invesco V.I. S&P 500 Index Fund                  February 12, 2010  June 30, 2019
Invesco V.I. Small Cap Equity Fund                 July 1, 2007     June 30, 2019
Invesco V.I. Technology Fund                       July 1, 2007     June 30, 2019
Invesco V.I. Value Opportunities Fund              July 1, 2007     June 30, 2019
</TABLE>

/7/  Advisory fees to be waived by Invesco for Invesco V.I. Balanced-Risk
     Allocation Fund also include advisory fees that Invesco receives on the
     Uninvested Cash from the Affiliated Money Market Fund in which Invesco
     Cayman Commodity Fund IV, Ltd. invests.

<PAGE>

<TABLE>
<S>                                                     <C>                <C>

                                  INVESCO EXCHANGE FUND

FUND                                                      EFFECTIVE DATE   COMMITTED UNTIL
----                                                    ------------------ ---------------
Invesco Exchange Fund                                   September 30, 2015  June 30, 2019

                                INVESCO SECURITIES TRUST

FUND                                                      EFFECTIVE DATE   COMMITTED UNTIL
----                                                    ------------------ ---------------
Invesco Balanced-Risk Aggressive Allocation Fund/8/      January 16, 2013   June 30, 2019

                                INVESCO MANAGEMENT TRUST

FUND                                                      EFFECTIVE DATE   COMMITTED UNTIL
----                                                    ------------------ ---------------
Invesco Conservative Income Fund                           July 1, 2014     June 30, 2019

                                    CLOSED-END FUNDS

FUND                                                      EFFECTIVE DATE   COMMITTED UNTIL
----                                                    ------------------ ---------------
Invesco Advantage Municipal Income Trust II                May 15, 2012     June 30, 2019
Invesco Bond Fund                                        August 26, 2015    June 30, 2019
Invesco California Value Municipal Income Trust            May 15, 2012     June 30, 2019
Invesco Dynamic Credit Opportunities Fund                  May 15, 2012     June 30, 2019
Invesco High Income 2023 Target Term Fund               November 28, 2016   June 30, 2019
Invesco High Income 2024 Target Term Fund               November 30, 2017   June 30, 2019
Invesco High Income Trust II                               May 15, 2012     June 30, 2019
Invesco Municipal Income Opportunities Trust             August 26, 2015    June 30, 2019
Invesco Municipal Opportunity Trust                        May 15, 2012     June 30, 2019
Invesco Municipal Trust                                    May 15, 2012     June 30, 2019
Invesco Pennsylvania Value Municipal Income Trust          May 15, 2012     June 30, 2019
Invesco Quality Municipal Income Trust                   August 26, 2015    June 30, 2019
Invesco Senior Income Trust                                May 15, 2012     June 30, 2019
Invesco Trust for Investment Grade Municipals              May 15, 2012     June 30, 2019
Invesco Trust for Investment Grade New York Municipals     May 15, 2012     June 30, 2019
Invesco Value Municipal Income Trust                       June 1, 2010     June 30, 2019
</TABLE>

/8/  Advisory fees to be waived by Invesco for Invesco Balanced-Risk Aggressive
     Allocation Fund also include advisory fees that Invesco receives on the
     Uninvested Cash from the Affiliated Money Market Fund in which Invesco
     Cayman Commodity Fund VI, Ltd. invests.
</TEXT>
</DOCUMENT>
